- Website & Social
- Social Impact Declaration
- Social Impact Statements
We are a social impact investment company, helping social enterprises to raise capital, in order to grow their impact.
We work with social enterprises and charities by offering advisory services or help to raise capital from like-minded investors and we also create and manage impact investment funds, which deliver financial return and targeted social impact.
We believe that change is possible and that one day, aligning profits with social impact will be the norm.
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Social Impact Statements
The Social Enterprise Mark criteria includes a requirement that the applicant can demonstrate that social and/or environmental objectives are being achieved.
In support of this, new applicants and renewing Mark holders are asked to respond to a set of social impact questions, which are designed to help them think about the social impact they create, and to articulate this clearly and succinctly.
Updated July 2019
1) What social differences and changes have you aimed to create (or supported)?
- Homelessness – provide high quality, low cost homes with security of tenure and some wrap around support. As a result of this over 1,500 people who were living in temporary accommodation now have a safe, secure, quality home.
- Dismantling Poverty – provide affordable unsecured loans to social enterprises.
- Developing Communities – partner with local communities to develop assets critical to the thriving of their community.
- Health & Wellbeing – provide affordable unsecured loans to social enterprises
2) What actions have you taken to address the above social aims?
Across all our funds and our advisory business we seek to both invest and also to strengthen the social enterprises we back and work with. This might be through a healthcheck, Developing an Impact Framework, making meaningful connections or obtaining technical assistance grants.
3) What has changed and what benefits have been realised as a result of your actions?
Over 1,500 people who were living in temporary accommodation now have a safe, secure, quality home.
In the last year we have mobilised over £33m of useful capital into the hands of 33 social enterprises from hundreds of investors. Investors have committed as little as £100 and as much as £15m in the last 12 months. Social enterprises have taken on capital from as little as £10,000 to in excess of £10m.
4) How do you and other people know your aims are being achieved? Or how will you know?
Every social enterprise is surveyed and / or interviewed every year whilst part of the portfolio. We publish impact reports for each of our Funds.
The below questions are not mandatory, but Mark holders are encouraged to answer them where possible, to provide a fuller account of their social outcomes and the social value they create.
5) How many people have benefitted from your actions?
To give you an indication of some key metrics - During the last year we have made 80 connections for social enterprises, this could either be connecting two social enterprises together to help each other, or introducing a social enterprise to a Foundation or other source of investment/capital, that will help them make more impact.
- Our Homelessness Property Funds (HPF) now home over 1,500 individuals of which circa 50% are
- Amongst those tenants in our HPF, we have seen a drop-in unemployment by 6% (2017 compared
- Amongst our tenants in HPF we have also seen an increase in the number that now save money
for their future
See the latest Social Impact Report for our Homelessness Property Funds.
6) What examples can you provide of a typical service user experience, that helps illustrate the benefits they have experienced as a result of your actions?
Resonance have three Homelessness Property funds in partnership with Real Lettings, who are a social enterprise run by St.Mungo’s. Here are a couple of examples from actual tenants from our Homelessness Property Funds, that illustrate the benefits to them.
Kelly, London – Kelly is a single parent. Her nine-year-old son was diagnosed with severe autism at the age of four. Kelly had been housed by Croydon Council in temporary accommodation after her private rented property was repossessed when the landlord failed to pay the mortgage. Kelly moved into her home provided by Real Lettings in February 2018. Kelly values the support of the Real Lettings team, who she finds friendly and positive. Kelly now has a job and works 16 hours a week and hopes to go back into full time work once her son is settled into his new surroundings.
Rodney, London - had been homeless and in temporary accommodation with his fourteen-year-old son, after a difficult break up with his ex-partner and losing his business and home. Rodney was working when he moved into a Real Lettings property, but had to give up work as it was too far to travel. Real Lettings has helped him in decision making, building his confidence and referring him to other support within St.Mungo’s. He has enrolled on a 2 year college course and hopes to start his own business when he gets his degree.
7) What additional social benefits have you been able to deliver within your core services that distinguish you from other “for shareholder profit” providers?
We believe we go the extra mile for the social enterprises we work with and support. For example we have teams based in multiple locations around the UK, so are on the ground to support social enterprises with advice and pro bono help where we have the skills, for example we are supporting a number of social enterprises with marketing expertise.
8) What other social benefits have you contributed that go beyond your core delivery activities (ones that are completely unrelated to your main services)?
We have a company policy of allowing staff to volunteer with social enterprises and charities in company time. A number of staff have taken up this offer and we are in the process of monitoring the effect of this.
9) What social and environmental benefits have you created from internal operational policies and actions?
Following move to a new HQ location in Launceston, we have spent over £17k on insulating the entire roof and installing a heat recovery system.